More broadly, It is estimated that by 2020, Victoria's digital economy could be worth $50.8 billion.

Victoria's digital technology strengths will drive innovation and increase the competitiveness of the state's industries, developing advanced capabilities that will grow the economy.

The Victorian Government has a commitment to making Victoria the number one destination for digital technology companies and start-ups in the Asia-Pacific region.

Victoria is leading the nation on cyber security and has attracted Oxford University's world-leading Global Cyber Security Capacity Centre to set up its first ever international office in Melbourne.

Melbourne has also hosted leading digital tech conferences and attracted global tech leaders such as Zendesk, Amazon, Alibaba and Square, to establish regional headquarters here.

The government is actively creating a supportive environment in which innovation and international trade possibilities can thrive, setting up initiatives such as the $60 million LaunchVic, which aims to help grow a healthy start-up ecosystem in the state.

Victoria's position as Australia's tech and innovation leader is being strengthened by the Innovation Expert Panel, comprising of leading entrepreneurs, educators and private sector representatives.

Victoria's strengths

The state's strengths include:

Victoria is fast establishing itself as an international hub for digital technology companies and start-ups.

Melbourne produces more IT graduates than any other city in Australia.

Supports women in tech events and programs, such as Robogals, Girl Geek Academy, TechDiversity Awards and the League of Extraordinary

Victoria's internationally competitive digital technology sector is leading the way in collaborative research services, data analytics, software development, delivery and support.

Sector strategy

The Victorian Government is currently consulting with industry and developing a Digital Economy Plan.